Broker ratings: upgrades, downgrades & reiterations 17/7/15

Deutsche Bank:
SKF Hold (Buy)
Credit Suisse Hold(Buy)

Goldman Sachs:
Fresenius Neutral (Buy)

HSBC:
Terna Reduce (Hold)
Altice Buy (Hold)
Centrica Buy (Hold)

Investec:
ARM Holdings Buy (Hold)

JP Morgan Cazenove:
Millicom International
Cellular Overweight (Neutral)
CGG France Overweight (Underweight)

Jefferies:
Henderson Group Hold (Underperform)

Nomura:
Restaurant Group Neutral (Buy)
J.D. Whetherspoon Reduce (Neutral)